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Flipkart, Snapdeal, others to decrease campus hiring this placement season

Times of India | Posted By : Swati Agarwal|2 years ago |544 Views

Times of India

MUMBAI: Campus hiring by large e-commerce companies at top B-schools is likely to see a steep fall this placement season, according to early estimates by sources from more than half-a-dozen such institutes. While Flipkart and Snapdeal had together hired close to 400 graduates from India's top B-schools during placements last year, the two are likely to hire only a small fraction of that number this year.

Leading institutes such as SP Jain Institute of Management and Research, MDI Gurgaon, IIFT and IMI Delhi that have already completed placements, have seen a 40-75% drop in overall offers from e-commerce companies/startups during final placements.

The top three IIMs at Ahmedabad, Bengaluru and Kolkata are also bracing themselves for muted hiring from large e-commerce firms, according to a placement source at one of these institutes. Final placements are yet to begin at these institutes, but many early indications point to a dip. At IIM-Calcutta, for example, a top e-commerce recruiter is not even coming for final placements this year. At IIM-Kozhikode, where placements finished last weekend, offers from the big e-commerce companies have fallen 33.3%.

XLRI, which also starts placements in February, says they are anticipating e-commerce numbers to be lower. The numbers are telling. At SPJIMR, six e-commerce companies made only 14 offers compared to 54 offers from 5 companies in 2015. As a result of this near-75% drop in e-commerce offers, only 6% of the batch at the Mumbai-based institute was placed in such companies compared with 23% last year.

At MDI Gurgaon, only 19 offers have come in from 13 participating companies compared with 47 offers from six companies in 2015. Similar stories are playing out at other campuses. At IIFT, e-commerce companies hired only 11% of the batch, compared with 18% last year. IMI, Delhi also saw a steep fall.

According to an earlier ET story, over 11% of graduates across 11 of India's top B-schools joined an e-commerce firm or startup last year. The numbers will be much less this year.

"This (slowdown in campus hiring) can be attributed to recent layoffs and unsuccessful business models of some companies," says Manaswini Acharya, professor of marketing and dean (placements and corporate relations) at IMI Delhi.

Flipkart and Snapdeal declined to comment on the story. But data culled from MDI Gurgaon shows that the two companies have made just 2 offers each, compared to 13 from Flipkart and 19 from Snapdeal last year. At SPJIMR, Flipkart and Snapdeal made no offers compared to 17 and 11, respectively, last year. Flipkart skipped IIM-Kozhikode and Snapdeal did not visit IIFT.

Amazon, too, is likely to hire less. At SPJIMR, it made only 8 offers compared with 22 last year; its offers dropped by 30% at IIM Kozhikode. But it hired more at IIFT, making 12 offers compared with 9 last year.

"Growth is happening, things are (still) good, but there is a reassessment of how much (cash) burn one should sustain. It is not unnatural for companies to consolidate and cut recruitment," says Sandeep Murthy, partner at venture capital firm, Lightbox Ventures.